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MUMBAI: India witnessed a downfall in terms of value of outbound deals in the year gone by, whereas there was a 35 per cent surge in inbound deals during 2014, according to Grant Thornton's 10th annual DealTracker report. The total value of outbound deals in the country in 2014 stood at USD 5.9 billion (117 deals) down by 35 percent as compared to the mark of USD 9.2 billion in 2013, though volumes increased by 43 percent, the report said. On the other hand, value of inbound deals in 2014 was at USD 11.8 billion, up by 35 percent compared to last year's value that stood at USD 8.7 billion.

NEW DELHI: With the government taking steps to improve ease of doing business and attracting investments, FDI inflows into the services sector grew by 20 per cent to USD 1.84 billion in the April-November period this fiscal. The services sector, which includes banking, insurance, outsourcing, R&D, courier and technology testing, had received foreign direct investment (FDI) worth USD 1.46 billion during April-November 2013-14, according to the data of the Department of Industrial Policy and Promotion (DIPP)

MUMBAI: Foreign brokerage Bank of America-Merrill Lynch ( BofA-ML ) today said ECB's over USD 1 trillion injection will support investor inflows into the country and the Reserve Bank will use the same to recoup forex reserves. The ECB announcement of monthly bond buying of euro 60 billion will help offset the impact caused by a likely tightening by the US Fed, the report said. "We think ECB QE should support portfolio equity inflows to the Indian markets, despite the Fed tightening," it said in a note, adding the RBI will use this opportunity to up its forex kitty keeping in mind the impact which an event in Fed tightening may have.

NEW DELHI: Ahead of the US President Barack Obama'a India visit, industry body CII has identified areas like Make in India, defence co-production, Digital India, higher education and skills training to deepen bilateral ties. It also said the US needs to understand India's development concerns particularly on areas such as food security, job creation, and the country's need to drive the industry as an instrument of economic progress. "US companies can play a role in using India as a gateway for exporting to countries in Asia and beyond, leveraging India's FTAs (free trade agreements)

NEW DELHI: Ahead of US President Barack Obama's visit here, American Ambassador Richard Verma today identified energy and defence among the areas where progress was expected while noting that there may be differences between the two sides but keeping lines of communication open was important. He also admitted there was a criticism that while India and the US share a close ties, the partnership doesn't live up to its "hype and promise". Addressing a gathering of diplomats and policy experts here, Verma said much was achieved in last 10 years while noting the progress in defence ties, with US defence sales to India topping USD 10 billion, and bilateral trade that had grown five fold to USD 100 billion in the past decade.

NEW DELHI: World Bank today said it will commit USD 1 billion in the government's Swachh Bharat (Clean India) campaign. World Bank's country director in India Onno Ruhl said the World Bank is considering considerable large sums of financing for that. "The government has asked us at the highest level to prepare this with speed. So, we have teams here working flat out day and night to support. "Given the fact that we haven't fully completed our discussion, I wouldn't want to commit to an amount.

NEW DELHI: Looking to garner funds to secure bail for its Chairman Subrata Roy, Sahara Group is in advanced stages of tying up a financial package worth nearly USD 2 billion (over Rs 12,000 crore) from US-based Mirach Capital Group. Sahara Group's Head of Corporate Finance Sandeep Wadhwa told PTI that documentation process is progressing and the deal with Mirach Capital is expected to be completed before February 20. The deal under progress comprises investments to the tune of USD 1.1 billion and a senior loan of close to USD 882 million having a one-year tenure.

MUMBAI: Services exports edged up by 1.21 per cent to USD 12.47 billion in November compared to the same month last year. The services exports during the same month a year ago stood at USD 12.32 billion, showed the RBI data which was released today. Import of services during the month were almost flat at USD 6.16 billion, against USD 6.12 billion in the year ago period. The cumulative receipts (or exports) in services during April-November stood at USD 103.76 billion, while cumulative payments (or imports)

NEW DELHI: India's trade deficit declined to 10-month low of USD 9.43 billion in December mainly on account of falling imports due to slump in crude prices, though exports too have come down. Gold imports showed an increase from year-ago level to USD 1.34 billion in December, but it is a substantial decline from the previous month (USD 5.61 billion). As per the data released by the government, imports bill declined by 4.8 per to USD 34.8 billion during the month from USD 36.6 billion from December 2013, leading to improvement in the trade balance situation.

NEW DELHI: By selling off yuMobile in Kenya to Bharti Airtel and local operator Safaricom, Essar today marked its exit from telecom business globally and completed monetisation in the segment for USD 6 billion. Essar Global Fund Limited (EGFL), managed by Essar Capital, said in a statement that "it has completely exited the telecom business with successful closure of the transaction in Kenya. " Essar has concluded sale of its Kenya based yuMobile to Airtel and Safaricom for USD 120 million.